Arbeitspapier
Managing risk taking with interest rate policy and macroprudential regulations
We develop a model in which a financial intermediary's investment in risky assets - risk taking - is excessive due to limited liability and deposit insurance and characterize the policy tools that implement efficient risk taking. In the calibrated model, coordinating interest rate policy with state-contingent macroprudential regulations, either capital or leverage regulation, and a tax on profits achieves efficiency. Interest rate policy mitigates excessive risk taking by altering both the return and the supply of collateralizable safe assets. In contrast to commonly used capital regulation, leverage regulation has stronger effects on risk taking and calls for higher interest rates.
- Sprache
-
Englisch
- Erschienen in
-
Series: Bank of Canada Staff Working Paper ; No. 2016-47
- Klassifikation
-
Wirtschaft
Financial Markets and the Macroeconomy
Monetary Policy
Portfolio Choice; Investment Decisions
General Financial Markets: Government Policy and Regulation
- Thema
-
Financial system regulation and policies
Monetary policy framework
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Cociuba, Simona E.
Shukayev, Malik
Ueberfeldt, Alexander
- Ereignis
-
Veröffentlichung
- (wer)
-
Bank of Canada
- (wo)
-
Ottawa
- (wann)
-
2016
- DOI
-
doi:10.34989/swp-2016-47
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Cociuba, Simona E.
- Shukayev, Malik
- Ueberfeldt, Alexander
- Bank of Canada
Entstanden
- 2016
Ähnliche Objekte (12)
Optimal monetary and macroprudential policies
Macroprudential policy with capital buffers
Rollover risk, liquidity and macroprudential regulation
A policy model to analyze macroprudential regulations and monetary policy
A microfounded design of interconnectedness-based Macroprudential policy
An optimal macroprudential policy mix for segmented credit markets
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?
Managing risk taking with interest rate policy and macroprudential regulations
Corporate risk taking and ownership structure
The global financial cycle, monetary policies and macroprudential regulations in small, open economies
Technological progress and monetary policy: Managing the fourth industrial revolution
Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?
Optimal monetary and macroprudential policies
Macroprudential policy with capital buffers
Rollover risk, liquidity and macroprudential regulation
A policy model to analyze macroprudential regulations and monetary policy
A microfounded design of interconnectedness-based Macroprudential policy
An optimal macroprudential policy mix for segmented credit markets
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?
Managing risk taking with interest rate policy and macroprudential regulations
Corporate risk taking and ownership structure
The global financial cycle, monetary policies and macroprudential regulations in small, open economies
Technological progress and monetary policy: Managing the fourth industrial revolution
Addressing Household Indebtedness: Monetary, Fiscal or Macroprudential Policy?
Optimal monetary and macroprudential policies
Macroprudential policy with capital buffers
Rollover risk, liquidity and macroprudential regulation
A policy model to analyze macroprudential regulations and monetary policy
A microfounded design of interconnectedness-based Macroprudential policy
An optimal macroprudential policy mix for segmented credit markets
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?
Managing risk taking with interest rate policy and macroprudential regulations
Corporate risk taking and ownership structure
The global financial cycle, monetary policies and macroprudential regulations in small, open economies
Technological progress and monetary policy: Managing the fourth industrial revolution